For the love of your business
For the love of your business
As a business leader, you have the ability to make an impact, inspire future generations and leave a legacy of your leadership. But too often, leaders in the business world fail to consider how to accomplish these lofty goals until it’s too late. Leaving a business legacy isn’t as simple as wisely planning your retirement. […]
Read MoreIn the past, small businesses relied on bank loans when in need of extra funds. Although new to the scene, microfinance lenders now offer additional flexible funding alternatives for small businesses. Originally used to fund entrepreneurs in underdeveloped countries who lacked the resources, credit history and stability to pursue traditional finance options, microloans are now […]
Read MoreAudits can happen to any business. Small businesses are no exception. The IRS can conduct an audit on your business when your tax filing contains questionable deductions, your business is of particular interest to the IRS or by random selection. Contrary to popular belief, being audited doesn’t necessarily mean you did anything wrong. And for […]
Read MoreQ: How can I keep good records as a small business owner? What should I keep and what can I throw away? –Conscientious Business Owner A: Dear Conscientious: Keeping good records relieves stress and makes running your business easier and more enjoyable. But it may not look like what you think if you’ve […]
Read MoreRunning a small business often means you play a jack-of-all-trades. Whether it’s drafting client contracts or taking inventory, it’s likely you have a hand in all aspects of your business. Marketing is no exception. And knowing how to create an efficient marketing plan for your business can be difficult, especially when you might not be […]
Read MoreIf you work from home, you may be eligible for tax deductions on part of the rent or mortgage payments you make, but you may be afraid this puts you at risk of tax audit. And, rightly so. Calculating your home office deduction properly can minimize your taxes and keep you out of risk.
Read MoreIn December 2016, former President Obama signed an important health care act that will help alleviate the burden of employee health insurance on small businesses. The 21st Century Cures Act will allow, among other things, small businesses to reimburse their employees for individual health insurance if they do not offer a group plan. For small […]
Read MoreIf you get paid for a service, collecting payment is the lifeblood of your company. And, yet, if you are like most people, you’ve made it an afterthought. For example, I recently got a request from a client I’ve worked with a few times before to review her client agreement. Upon doing so, what I […]
Read MoreQ: Can I get a health care tax credit for my small business? –Curious Business Owner A: Dear Curious: Health care tax credits can be a significant benefit for small businesses that want to provide healthcare for their employees. Not every small business will qualify for the tax credit. To determine if […]
Read MoreWhile tax day here in the United States is not until April 15, if you own a business and you intend to follow the rules, you’ve already started scrambling. 1099s were due to your independent contractors February 1, and if you are filing an S or C-Corp tax return, it’s due March 15, and then […]
Read MoreAlthough often perceived as a worst case scenario, bankruptcy can be an appropriate way for small businesses to recover from unmanageable debt by reorganization, reducing personal liability or liquidating business assets. Sometimes small businesses (or their owners) must turn to bankruptcy when cash flow slows or business expenses cannot be met. There are three types […]
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